HFMA's Value Project: Phase 2
HFMA's Phase 2 of the Value Project builds upon the concepts developed in Phase 1 of the project, which defined four value-driving capabilities. Phase 2 consists of two research topics:
- The first defines purchaser and payer expectations for greater value in health care and identify how healthcare provider organizations are preparing to deliver greater value.
- The second topic examines how provider organizations manage their transitions to value and considers the impact of organizational type and market demographics on business models and strategies for a value-based future.
Phase 2 research was supported by the financial and intellectual contributions of 16 hospitals and health systems.
Phase 2 Resources
The Value Journey: Organizational Road Maps for Value-Driven Health Care
All healthcare organizations face common challenges in transitioning to value-based payment and care delivery. But different types of organizations also have unique challenges and opportunities in the transition. Working with 35 hospitals and health systems, HFMA defined value road maps for:
- Academic medical centers
- Aligned integrated systems
- Multi-hospital systems
- Rural hospitals
- Stand-alone hospitals
Defining and Delivering Value
This report draws upon interviews with 13 executives at organizations representing healthcare purchasers, payers, and government agencies, surveys of HFMA members, and interviews with healthcare organization finance officers:
- Understand what purchasers and payers seek from value providers
- Define guidelines for the development of value metrics
- Identify preparations provider organizations are making in the areas of business intelligence and costing
- Recommend key actions steps hospitals, health systems, and other provider organizations should take to prepare for a value-based future
Publication Date: Friday, June 01, 2012